Indian Oil’s Q3FY22 net profit rises to Rs 5,861 cr

State-run OMC IndianOil on Monday reported a rise in its Q3FY22 net profit on a year-on-year basis.

The net profit rose to Rs 5,861 crore from Rs 4,917 crore reported for the corresponding quarter of FY 2020-21 due to higher refining margin during the current quarter.

Besides, the company’s revenue from operations increased to 197,172 crore in Q3FY22 from Rs 146,465 crore in the corresponding quarter of FY21.

According to the company, its Board of Directors declared a second interim dividend of Rs 4 per equity share.

“For the third quarter of FY 2021-22, IndianOil’s product sales volumes, including exports, was 22.591 million tonnes,” IndianOil Chairman S.M. Vaidya said.

“The refining throughput was 17.404 million tonnes and the throughput of the Corporation’s countrywide pipelines network was 21.779 million tonnes during the quarter.”